Daymond John can recognize an opportunity. And the prolific investor who has built a legacy on his business sense and shrewdness can certainly recognize the vast potential in the world of cryptocurrency and blockchain technology.
It’s tech that — with all its allure of decentralization and anonymity — has proven especially enticing for some Black Americans historically left behind by traditional financial institutions.
But the “Shark Tank” star and founder of hip-hop apparel brand FUBU pushed back on any notion that crypto is a remedy for systemic inequality.
“I wouldn’t call it a great equalizer,” John said. “Until people acknowledge a problem about systemic issues that have been created a long time ago, then you can’t change and come up with a solution, right? You can’t come up with a pill and then not know the diagnosis.”
An Edelman survey of 1,500 U.S. adults from last August found that a majority of Black Americans reported experiences of “systemic bias and discrimination” across financial industry sub-sectors — such as mortgage and auto lenders, credit…
